STMicroelectronics Q1 Net Income Rises; Net Revenues Up 35.2%

(RTTNews) - STMicroelectronics (STM) reported first quarter net income to parent company of $364 million compared to $192 million, prior year. Earnings per share increased to $0.39 from $0.21. On average, six analysts polled by Thomson Reuters expected the company to report profit per share of $0.37, for the quarter. Analysts' estimates typically exclude special items.

First quarter net revenues were $3.02 billion compared to $2.23 billion, prior year. Analysts expected revenue of $2.92 billion, for the quarter.

For second quarter, the company expects net revenues to be $2.9 billion, a decrease of 3.8% sequentially, plus or minus 350 basis points.

The company expects 2021 CAPEX to be about $2 billion.